With 20% YoY Appreciation, New Gurugram takes centre stage in realty resurgence in 2023

India's property market is experiencing a surge in purchasing activity, driven by end-user preferences and increased savings. The real estate growth is driven by rising consumer sentiment and a buoyant market, aligning with corporate expansion and the demand for enhanced lifestyles and superior housing and investment options. Gurugram, often called the Millennium City, is one of the foremost real estate hubs in the National Capital Region (NCR). 

The city's realty landscape boasts top-notch locations such as Dwarka Expressway, Golf Course Extension, and the emerging gem, New Gurugram, where investing promises substantial returns. The Gurugram market has witnessed a remarkable 20 per cent year-on-year price appreciation, with New Gurugram taking centre stage in this realty resurgence.

In 2023, Gurugram solidified its position as the unrivalled leader in India's booming real estate sector. Recent data from Magicbricks showcases Gurugram's phenomenal quarter-on-quarter growth of 28.9 per cent, significantly outpacing the national average of 10.4 per cent. Surender Kaushik, MD, Aryan Realty Infratech Pvt. Ltd. stated that this surge in realty activity has been particularly pronounced in key areas like Dwarka Expressway, Golf Course Extension, and the emerging hotspot - New Gurugram. In light of the soaring demand for properties in the main Gurugram area, the emergence of New Gurugram has become a logical choice for discerning investors. This vibrant suburb, strategically positioned between Gurugram and Manesar, has become the preferred destination for those seeking a blend of modernity and affordability in their property investments.

New Gurugram stands out as a value-for-money proposition, offering a diverse range of residential and commercial properties. The recent enhancement in connectivity, notably the opening of the 22-km Sohna elevated road, has not only reduced commuting time but has also substantially boosted the realty prospects of the region. The presence of renowned developers, coupled with a variety of dwelling options, including apartments, villas, and independent floors, has transformed New Gurugram into a comprehensive micro-city.

Several factors contribute to the growing demand for properties in New Gurugram, including affordable housing options, upgraded infrastructure, smoother connectivity, a rising base of ambitious consumers, global retail giants, and the flourishing IT/corporate sectors. Surender Kaushik added that these dynamic factors mark the city's transition into a realty investment hotspot. A recent trend in the city is the rise of mixed-use developments, combining residential and commercial projects with recreational spaces within a single complex. This integrated approach allows residents to live, work, and play close, adding convenience and vibrancy to their lifestyles. New Gurugram spans Sectors 76-86, 89-93, and 82A, 88A, 89A, 95, and 95A, featuring residential properties across various price points. From luxury high-rise apartments to sprawling gated communities, the city offers diverse options for those looking to establish their homes in this dynamic locale."

The region is experiencing rapid infrastructure development, with projects like revamping the Southern Peripheral Road (SPR), the upcoming Clover Leaf between New Gurugram and SPR, and the forthcoming Regional Rapid Transit System. "The completion of the Sohna-Dausa stretch of the DMIC is another milestone, firmly establishing Gurugram as a gateway to the nation's future development corridor," he noted.

The emergence of New Gurugram as a realty hotspot in the NCR reflects the city's commitment to progress, connectivity, and innovation. With a perfect blend of modernity, affordability, and diverse investment opportunities, New Gurugram is a testament to Gurugram's continued dominance in the Indian real estate sector. As the city evolves, so does the potential for lucrative real estate investments, making New Gurugram a compelling choice for property seekers and investors alike.

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